Sometimes an auto insurance policy does not provide as much coverage as you would like or there is certain coverage that you do not need. Fortunately, you can purchase an endorsement that increases or reduces your coverage amount while still ensuring that you meet your auto insurance requirements.
In Ontario, this endorsement or add-on is known as an Ontario Policy Change Form (OPCF). There are many types of OPCF endorsements available. Below, we discuss these in greater detail. We also discuss whether you can make changes to your auto coverage at any time, even after a crash happens.
At Greg Monforton & Partners, we are prepared to help. Our automotive collision lawyers based in Windsor have a proven track record, and we offer a free initial consultation. Learn if you have a valid claim and get answers to your legal questions at no cost, risk, or obligation to you.
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Endorsements Available for Ontario Drivers
Ontario requires that all drivers carry the minimum coverage: third-party liability coverage, statutory accident benefits coverage, direct compensation coverage, as well as uninsured automobile coverage.
However, there are certain situations where you may want or require additional auto coverage. Some common endorsements Ontario drivers should consider purchasing for added protection include:
OPCF 20 – Loss of Vehicle Use
A car accident can cause significant vehicle damage. If your vehicle is unable to be driven, you may be wondering what you are going to do about transportation while your vehicle is in the repair shop. You may be without a vehicle for weeks while it is being fixed and having to pay for a rental vehicle can quickly add up.
This endorsement will pay for the cost of a rental vehicle while your vehicle is being repaired or replaced as long as the damage or loss is caused by a peril covered by your insurance. For instance, you may be covered if you are involved in a crash or your vehicle is stolen and you need transportation.
Methods of transportation are not limited to rental vehicles. If it will take some time to get your vehicle repaired, this endorsement will also cover you if you need to take a taxi or a ridesharing service.
OPCF 27 – Driving a Non-Owned Vehicle
Many people drive vehicles they do not own for one reason or another. You may be borrowing a vehicle from a family member or friend or driving a rental.
This endorsement will cover physical damage to any vehicle that you were driving at the time of the crash but do not personally own. The coverage limits often range between $25,000 to $50,000.
With this endorsement, you do not need to purchase insurance offered by a rental car company. Rental vehicles are covered for up to 30 days, and only drivers listed on your policy are included.
What about driving a leased vehicle?
OPCF 5 extends coverage to rented vehicles and any vehicle damaged in a crash that is owned by a leasing company. This endorsement is added to your auto insurance policy when you lease a vehicle.
OPCF 43 / 43A – Vehicle Depreciation Deduction
If your vehicle gets totalled in a crash, the insurance company will deduct the deprecation value of your vehicle from the book value of your vehicle. This could be considerably less than what is owed on your vehicle, causing you to be upside down on your vehicle loan.
However, with this endorsement, the insurer cannot deduct depreciation from the value of your vehicle when settling a claim for losses or damage caused by a covered peril. You may be able to get what you paid for the vehicle instead of the depreciated value. Only newer vehicles with less than 5,000 km are covered. This endorsement allows you to replace your vehicle with one of the same make and value.
OPCF 44R – Family Protection Coverage
If you are involved in a serious crash through no fault of your own, you may be unsure if the other driver has insurance or enough insurance to cover your losses. You may have to take time off work, which results in a loss of wages and costly medical bills to aid in your recovery.
This endorsement will cover you or an eligible family member in a crash if the at-fault driver is uninsured, underinsured or cannot be identified (in the case of a hit and run). The same limits as your third-party liability coverage will apply in order to help cover any remaining outstanding damages.
Changing Auto Insurance Coverage
As long as you are the named insured, you can make adjustments to your auto coverage at any time. You can add, reduce or change the amounts on an existing policy throughout the year and just pay for the portion you use. For instance, if you have two months left on your annual policy and add coverage, you will only be responsible for paying for two months’ worth of that coverage.
If you are in a crash and want to change your deductible or liability limit, this may also be possible. You could make a change to your policy without it affecting the coverage you had at the time of the crash. Should you take legal action against the at-fault driver, changing your auto coverage will not affect your case. You may want to consider consulting with a lawyer to help maximize your recovery.
Get Legal Advice from an Experienced Lawyer
Our lawyers are ready to handle your claim or help you pursue legal action after a crash. We have many decades of experience communicating and negotiating with insurance companies on our clients’ behalf. To date, we have successfully recovered $300,000,000 in settlements and verdicts.
There is no risk or cost in reaching out to our firm to see how we may be able to help. If your claim has merit, you are not obligated to hire us, and there are no fees unless we help you obtain a recovery.
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